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OI Technical Staff : 1/13/2006 9:59:59 PM

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Jeff Bailey : 1/13/2006 5:28:18 PM

Closing U.S. Market Watch found at this Link

Jeff Bailey : 1/13/2006 5:24:36 PM

Closing Internals found at this Link

Jeff Bailey : 1/13/2006 5:12:03 PM

Deadline Expires in BSX bid for GDT ... AP - The deadline for Guidant Corp. to respond to Boston Scientific Corp.'s latest $25 billion buyout offer came and went on Friday, increasing the tension in the fast-paced bidding war with Johnson & Johnson for the medical device maker.

Guidant had until 4 p.m. EST to respond to an offer Boston Scientific made Thursday night.

Calls to Guidant, Boston Scientific and J&J were not immediately returned.

GDT went out at $70.84 +0.62% ... last tick in extended was $71.25.

JNJ went out at $61.82 -0.62% ... last tick in extended was $61.82.

BSX went out at $25.20 +0.59% ... last tick in extended was $25.20.

Jeff Bailey : 1/13/2006 5:00:39 PM

Current OPEN MM Profiles found at this Link

Jeff Bailey : 1/13/2006 4:26:32 PM

Banking ... DJ - US bank business loans up $4.5 billion in latest week.

National Jumbo CDs up $6.2 billion. (see 01/04/06 01:02:30 MM)

Home equity down $2.1 billion.

Jeff Bailey : 1/13/2006 4:15:03 PM

Venezuela's Chavez vows to raise minimum wage above $200/month.

Jeff Bailey : 1/13/2006 4:12:28 PM

03:12 PM EST Temperatures with February Nat. Gas and Heating Oil settlement at this Link

February Unleaded settled up $0.0126, or 0.73% at $1.7311.

February Crude Oil settled down $0.02, or -0.03% at $63.92.

Jonathan Levinson : 1/13/2006 3:40:54 PM

QQQQ is in a 30/60 min cycle upphase, within a daily cycle upphase that is only begining to look tired as a result of two consecutive days of lower lows and lower highs. Daily chart at this Link

Jeff Bailey : 1/13/2006 3:24:20 PM

Boston Scientific (BSX) $25.12 +0.27% ... looks like the straddle traders are out in force today.

Quite a bit of evenly matched January $25 and $27.50 call/put action.

Guidant (GDT) $70.81 +0.58% has 36 minutes to come up with an answer.

Jeff Bailey : 1/13/2006 3:11:00 PM

03:00 Internals found at this Link

Jonathan Levinson : 1/13/2006 3:10:37 PM

Volume breadth -1.25:1 on the NYSE, -1.15:1 on the Nasdaq.

Jeff Bailey : 1/13/2006 3:02:22 PM

03:00 Market Watch found at this Link

Jonathan Levinson : 1/13/2006 2:53:28 PM

My exit was early, but the wavelet is topping out and I'm not willing to hold long for the 3-day weekend. Link

Jonathan Levinson : 1/13/2006 2:52:28 PM

QQQQ - Exit Point Alert -

Out QQQQ at 42.92, +.18

Jeff Bailey : 1/13/2006 2:51:29 PM

Boots&Coots (AMEX:WEL) $1.22 +2.52% Link ... the more things change, the more they seem the same.

Jeff Bailey : 1/13/2006 2:47:47 PM

Iran ... DJ - Top Iranian nuclear negotiator Ali Larijani called the head of the International Atomic Energy Agency Friday and stressed Iran's desire to resolve the dispute diplomatically, Iranian state TV reported.

The newscaster said Larijani reiterated to IAEA head Mohamed ElBaradei that Iran is determined to realize its nuclear goals "in the framework of international regulations and under the supervision of the IAEA."

Earlier Friday, Iran threatened to end surprise inspections and other cooperation with the U.N. nuclear watchdog if it is referred to the U.N. Security Council over its controversial nuclear program, and the president vowed his country won't be intimidated by sanctions.

Iran's tough line came as Europe and the U.S. were trying to build support for hauling Iran before the Security Council. They faced resistance, however, from China, which warned that the move could only escalate the confrontation.

An end to inspections would be a dramatic breakdown in the already faltering diplomatic attempts at reining in Iran's nuclear ambitions. The U.S. and many in Europe fear Iran aims to develop nuclear weapons.

Iran insists its program is peaceful, intended only to produce electricity. But it has insisted on its right to conduct uranium enrichment, a process that can produce reactor fuel or material for a nuclear bomb.

Marc Eckelberry : 1/13/2006 2:46:22 PM

You can cinch up the stop if you want, but I would leave it at 1.50. The weekend should only see minor slippage on premium as we bought 3 months out.

Marc Eckelberry : 1/13/2006 2:43:40 PM

Puts keep loading upon INTC. I love it. This stock is so underrated and is exactly where the money is going to start heading once all these 2nd tier players fizzle out. Looks like we caught a bottom and if we close above 25.80, the stage is set.

Jonathan Levinson : 1/13/2006 2:41:42 PM

QQQQ approaches declining 72 SMA resistance here at 42.92, above which the 30 min cycle gets a bullish bias. Link

Marc Eckelberry : 1/13/2006 2:29:34 PM

25.60, 38.2% is support. Stepping away/

Marc Eckelberry : 1/13/2006 2:28:51 PM

Solid bounce for INTC off lows. Watch 50 dma at 25.81. AMD is now out, INTC is in. My bet.

Jonathan Levinson : 1/13/2006 2:25:22 PM

QQQQ - Stop Loss Adjustment Alert -

QQQQ long from 42.74, move stop to even. The bounce is feeling very hesitant so far, and we don't need to risk the stop if the lows are to get retested.

Marc Eckelberry : 1/13/2006 2:24:56 PM

My actual target is still that big gap above 28. We made .30 on the last trade, so we have a free cushion.

Marc Eckelberry : 1/13/2006 2:22:32 PM

INTC is lagging behind the other chips and is about to post some pretty good earnings. They have been slammed the past two quarters but I think all those puts building at 25 indictae that we could get a short covering bounce on Wednesday up to 27.50.

Marc Eckelberry : 1/13/2006 2:20:11 PM

INTC entry Point Alert -
Long APR 25 calls at 1.80, stop 1.50.

Jeff Bailey : 1/13/2006 2:19:13 PM

Genco Shipping & Trading Ltd (GSTL) $16.89 -0.11% Link ... slips into important "zone of support" $16.81-$16.90.

Bearish implications from MACD as it rolls lower at zero.

Could be finding some negative sentiment regarding Iran.

Jonathan Levinson : 1/13/2006 2:16:43 PM

Tight stop under that one- I'm trying to catch the intraday bounce suggested by the bullish divergent Macd and the bottomy short cycle indicators. If it doesn't grip, we'll be out just below the 30/60 min channel bottoms. Link

Jonathan Levinson : 1/13/2006 2:15:24 PM

QQQQ - Entry Point Alert -

LongQQQQ at 42.74 stop 42.68

Jeff Bailey : 1/13/2006 2:14:49 PM

02:00 Internals found at this Link

Jeff Bailey : 1/13/2006 2:05:55 PM

02:00 Market Watch found at this Link

Jonathan Levinson : 1/13/2006 2:04:21 PM

Volume is very light for this time of day, with just 44M QQQQs traded so far. Volume breadth remains negative, but only barely so, and although the longer cycles are due for a decline, I'm having a great deal of difficulty finding anything very bearish in today's intraday action. Below 42.80 could change that, and we are currently looking at our second consecutive daily lower low and lower high, but in the meantime, price is looking due for a bounce on a 30 and 60 min cycle basis. Link

Jeff Bailey : 1/13/2006 1:55:48 PM

Current OPEN MM Profiles found at this Link

Jonathan Levinson : 1/13/2006 1:49:58 PM

Volume breadth -1.6:1 on the NYSE, -1.35:1 on the Nasdaq.

Jonathan Levinson : 1/13/2006 1:48:40 PM

QQQQ testing h&s neckline support here: Link

Jeff Bailey : 1/13/2006 1:43:46 PM

Midday News Update:

It has been a rather quiet day of trade for the major indices into the 3-day weekend as investors look as if they are more focused on locking in some gains found earlier this month as earnings season finds some early warnings.

It hasn't been a quiet day for shares of Tyco (TYC) $27.26 -10.06% after the conglomerate said it will split its portfolio through tax-free stock dividends into healthcare, electronics and a third group that will contain fire and security as well as engineered products and services segments, for total cost of about $1 billion. The company also lowered its Q1 earnings outlook and said it now expects income from continuing operations before items to be about $0.38 a share, compared with prior forecast of 40c to 42c a share.

Dow component General Motors (GM) $20.55 -1.95% was driving south with the auto maker saying it sees a $4 billion reduction in operating costs this year and 'further progress' next year. GM expects 29% of North American sales this year to come from recently released and still-to-come new and redesigned vehicles. In addition the finance arm of General Motors will recognize a non-cash impairment charge of roughly $450 million in Q4 related to goodwill recognized in connection with the 1999 acquisition of Bank of New York's commercial finance business.

Lucent Technology (LU) $2.60 -3.69% slumped after the telecommunication-equipment maker blamed sequentially lower fiscal Q1 revenue in the U.S. and China for cutting its fiscal-year sales forecast. The company also named CFO D'Amelio as chief operating officer.

February Live Cattle (lc06g) $95.575 +0.47% found buyers back above a rising 50-day SMA on news that U.S. beef exports to South Korea are expected to begin by late March after being suspended for two years when a case of mad-cow disease was found in the U.S.

Demand was seen as strong after Indonesia reported its 12th human death from Bird Flu.

Economic data showed U.S. core producer prices up 0.1%. Wholesale prices surged 0.9% in December, but excluding food and energy, prices increased a tame 0.1%. Retail sales meanwhile, rose 0.7% in December, lower than the 0.9% increase economists projected. Business inventories increased 0.5% as automobile stockpiles grew.

Jonathan Levinson : 1/13/2006 1:41:06 PM

Stuck on a phone call.

Jonathan Levinson : 1/13/2006 1:25:15 PM

It's surprising not to see QQQQ bouncing from these levels. 42.80 support remains in the crosshairs: Link

Jonathan Levinson : 1/13/2006 1:14:11 PM

Stepping away for a few minutes.

Jeff Bailey : 1/13/2006 1:13:56 PM

01:00 Internals found at this Link

Jonathan Levinson : 1/13/2006 1:08:04 PM

The yield curve flattens further, TNX down 6 bps now to 4.35%, IRX up 1.5 bps at 4.22%. Daily TNX chart approaches a test of rising channel support at 4.30%: Link

Jeff Bailey : 1/13/2006 1:02:55 PM

01:00 Market Watch found at this Link

Jonathan Levinson : 1/13/2006 1:01:30 PM

The upturn in the 30 min cycle is stalling on the break back below 72 SMA support at 42.95, but today's low has yet to be tested. The short cycle indicators are an unreadable mess, though the chop is occurring much closer to oversold than overbought. I don't expect a big downside break from this setup- if 42.75-.80 fails, then it will confirm the broad h&s top that Mark has been discussing, and mark the kickoff of a new daily cycle downphase for QQQQ. Link

Jonathan Levinson : 1/13/2006 12:48:06 PM

Volume breadth -1.6:1 on the NYSE, -1.3:1 on the Nasdaq.

Jeff Bailey : 1/13/2006 12:45:30 PM

Sell Program Premium ... DIA $109.38, SPX 1,284.12, QQQQ $42.84

Jonathan Levinson : 1/13/2006 12:44:36 PM

Session low for ES her, QQQQ dropping back below 42.90. Volume is picking up slightly on the break. Link

Jonathan Levinson : 1/13/2006 12:30:45 PM

Volume has trailed off to nothing here on QQQQ, volume breadth for the Nasdaq +1.12:1. Link

Jeff Bailey : 1/13/2006 12:23:21 PM

12:00 Internals found at this Link

Jeff Bailey : 1/13/2006 12:02:24 PM

12:00 Market Watch found at this Link

Marc Eckelberry : 1/13/2006 12:01:51 PM

ALERT: Exit INTC APR 25 calls at 2 (+.18%). Flat is best over the wekend.

Jonathan Levinson : 1/13/2006 12:01:16 PM

On a 30 min chanrt, QQQQ has potential head and shoulder support at 42.77. In that timeframe, however, the cycle indicators look more bullish than bearish here. Further out, the daily cycle still has upside left, but it's getting hit by the ongoing weakness and yesterday's lower low/lower high combo. QQQQ bulls need a break above 43.05-.10 for starters, bears below 42.75-.80 to resolve this pattern vs. oscillator dilemma.

Jonathan Levinson : 1/13/2006 11:53:44 AM

Headline:

11:53am BUSH: AN IRAN WITH NUCLEAR WEAPONS POSES GRAVE THREAT

Jeff Bailey : 1/13/2006 11:43:13 AM

Alcan (AL) $42.83 +1.49% Link ... very strong again today and challenges it recent 52-week high of $42.82 set on 01/09/06.

Alcoa (AA) $28.83 +0.06% Link , which recently reported weaker-than-expected earnings.

Continuous Aluminum ($ALUM) Link , which has been "on fire" since triggering a triple top buy signal at $0.91 and approaches its current bullish vertical count of $1.13.

Jonathan Levinson : 1/13/2006 11:40:50 AM

Session high for ten year notes, +21/64 at 109 43/64. TNX is now down 4.3 bps at 4.367%, and IRX is up 1.7 bps at 4.222%.

Jeff Bailey : 1/13/2006 11:37:01 AM

Lucent (LU) $2.66 -2.21% Link ... after morning low of $2.49.

BIG volume today at just over 157 million.

Jonathan Levinson : 1/13/2006 11:36:15 AM

Volume breadth -1.03:1 on the NYSE, +1.6:1 on the Nasdaq.

Jeff Bailey : 1/13/2006 11:30:48 AM

NYSE NH/NL Ratio Chart at this Link

Updated to yesterday's close.

Bulls shouldn't be overly eager to buy overextended stocks. Check those bullish vertical counts. If met, or exceeded, take some profits.

Jonathan Levinson : 1/13/2006 11:28:38 AM

The short cycle indicators are getting toppy, but the 30 min cycle is due for an upturn with price holding above teh 72 SMA at 42.94 QQQQ. The pivot is well placed at 43.00, right at the start of confluence and overbought resistance. Link

Jeff Bailey : 1/13/2006 11:13:57 AM

11:00 Internals found at this Link

Jonathan Levinson : 1/13/2006 11:10:48 AM

Back. QQQQ bumped its head on the descending 72 SMA resistance line at the top of the wavelet bounce. However, because of the potential for a 30 min cycle bottom off the lows, it's very early to rule out the bulls. A break above 42.93 will have next resistance in the 43-43.05 area. Link

Jeff Bailey : 1/13/2006 11:04:21 AM

11:00 Market Watch found at this Link

Jeff Bailey : 1/13/2006 11:01:00 AM

Bird Flu ... Indonesia reports 12th human death from Bird Flu.

Jeff Bailey : 1/13/2006 10:57:04 AM

Chesapeake Energy (CHK) $32.44 +0.43% ... has been either side of WEEKLY Pivot this morning. Session low came early at $31.95 with session high $32.50 (DAILY Pivot $32.59).

Jonathan Levinson : 1/13/2006 10:55:51 AM

Stepping away.

Jeff Bailey : 1/13/2006 10:55:22 AM

April Nat. Gas alert (ng06j) $9.00 -0.74% ... updated bar chart at this Link

Jonathan Levinson : 1/13/2006 10:53:43 AM

QQQQ returns to yesterday's range on a burst of volume. 42.80 support held, and the wavelet and short cycle indicators are ticking up on the bounce. Link

Jonathan Levinson : 1/13/2006 10:52:09 AM

Session highs for gold and silver here at 557 and 7.21 respectively. Crude oil is down .35 at 63.60, natgas -.07 at 8.875.

Jeff Bailey : 1/13/2006 10:51:53 AM

Canada New Vehicle Sales +3.1% in November ... DJ - Canada's new motor vehicle sales rose 3.1% in November, according to data released by Statistics Canada Friday.

Sales in November were a seasonally adjusted 136,226, up from 132,066 in October. The mean forecast of economists surveyed by Thomson IFR Bonddata was for sales to rise 3.0%.

The agency said vehicle sales peaked in the summer and were winding down after the end of various discount programs. "Despite two consecutive months of moderate increases in October and November, the number of new vehicles sold nationwide has only returned to a monthly sales figure in line with recent historical levels."

Sales of passenger cars fell 1.2% in November, while sales of trucks were up 8.1%.

Sales of overseas-built cars were up 2.8% in November, while sales of North American-built cars fell 3.0%.

Seasonally adjusted sales for November included:

-passenger cars, 69,877, down from 70,713 in October;

-trucks, vans and buses, 66,349, up from 61,354.

Of November's passenger car sales, North American-made cars accounted for 46,663, down from 48,130 in October. Sales of cars imported from overseas totaled 23,214, up from 22,582.

Unadjusted new motor vehicle sales in November were 124,111, up 3.2% from 120,287 a year earlier.

Jonathan Levinson : 1/13/2006 10:45:57 AM

Light volume so far on this break to new lows. Volume breadth -1.24:1 on the Nasdaq.

Jonathan Levinson : 1/13/2006 10:44:23 AM

QQQQ so far fails to clear the broken bear flag support line- clearly bearish. But yesterday's low continues to hold in a potential bottom area for the 30/60 min cycle downphases- bullish. A break of 42.80 or above 43.05 should resolve the range one way or the other. Link

Jonathan Levinson : 1/13/2006 10:35:04 AM

Ten year notes are at session highs here, TNX -3.9 bps at 4.371%, flatter against the IRX which is up 2 bps at 4.225%.

Jonathan Levinson : 1/13/2006 10:27:24 AM

Volume breadth is -1.44:1 on the NYSE, -1.15:1 on the Nasdaq as the indices test yesterday's lows. Critical juncture here. Link

Jonathan Levinson : 1/13/2006 10:19:22 AM

QQQQ loses bear flag support here, but on a small burst of volume. Could still be a throwunder as the wavelet cycle grows bottomy: Link

Jeff Bailey : 1/13/2006 10:19:56 AM

10:00 Internals found at this Link

Yesterday's Internals found at this Link

Jeff Bailey : 1/13/2006 10:09:00 AM

10:00 Market Watch found at this Link

Jonathan Levinson : 1/13/2006 10:08:22 AM

Accumulative consolidation, or bear flag for QQQQ here? Rising linear QQQQ channel at this Link

Jonathan Levinson : 1/13/2006 10:01:36 AM

Headlines:

U.S. NOV. INVENTORIES RISE 0.5% VS. 0.4% EXPECTED

U.S. NOV. BUSINESS SALES RISE 0.1%

U.S. NOV. INVENTORY-TO-SALES RATIO RISES TO 1.26 VS. 1.25

U.S. NOV. RETAIL INVENTORIES RISE 0.9%

Jonathan Levinson : 1/13/2006 9:56:41 AM

The Fed announces an 8.5B 4-day repo to refund 7B maturing, for a net add of 1.5B and leaving the door open for a net add on Monday.

Jonathan Levinson : 1/13/2006 9:52:02 AM

Here's the wavelet downphase for QQQQ, testing rising support off yesterday's low. Link

Jonathan Levinson : 1/13/2006 9:45:40 AM

QQQQ's 30 min cycles continue to work their way lower, at levels from which a 30 min cycle bottom could start to form. It's early for those downphases to abort, but they've been getting cut short for the past 2 weeks by the relentless daily cycle upphase. A break of the 43.05 line or sideways chop above yesterday's low should be bullish under that scenario.

Jeff Bailey : 1/13/2006 9:35:45 AM

Lucent Tech (LU) $2.50 -7.74% ... gaps lower after the communications equipment maker cut its 2006 sales forecast, citing lower demand in U.S. and China.

Jonathan Levinson : 1/13/2006 9:35:40 AM

QQQQ chart with the short cycle upphase underway, wavelet cycle (middle oscillator pane) getting toppy: Link

Jonathan Levinson : 1/13/2006 9:31:57 AM

Volume breadth is -1.35:1 on the NYSE, +1.2:1 on the Nasdaq.

Jonathan Levinson : 1/13/2006 9:31:19 AM

QQQQ's 72 SMA is at 43.04 , 30/60 min channel support is at 42.75 and 42.91 , 30/60 min channel resistance 43.12 and 43.29 . The wide gulf between the 30 and 60 min channel bands is because of yesterday afternoon's steep drop.

Jane Fox : 1/13/2006 9:25:01 AM

Larry McMillan's weekly commentary This rally has been fueled by liquidity (i.e., institutions having excess cash that they decided to put to work), as the only fundamental 'news' was the release of the December FOMC minutes, which some have interpreted to say that the Fed is nearing an end to its rate increases.

The rally has since transformed itself into what we call a 'momentum-based' rally, in that it has been so strong that it is bringing more buyers into the market, solely by the fact that it is rising. It's somewhat akin to saying that Paris Hilton is famous for being famous.

The charts of the major averages are bullish and will continue to remain so, as long as they hold above their recent breakout levels ($SPX:1275, QQQQ: 42.20, and 10,900 for the Dow). These levels are particularly important, for a momentum-based rally is only going to last if the momentum continues to build. A failure of those levels would break the momentum and likely lead to a more substantial selloff.

The rally has also dragged our technical indicators into bullish compliance. They didn't give buy signals on their own, as they did last October. $VIX didn't spike to a high, nor did put-call ratios give buy signals high on their charts, nor did market breadth get oversold enough to generate buy signals. That's why price action has been so important, for the classic oversold buy signals never took place.

Equity-only put-call ratios are now declining once again (charts above), and so that places them in a bullish mode. These latest buy signals occurred at relatively low levels on their charts, but that might not be a problem, for these ratios were much lower during the bull markets of the past.

Market breadth had not been tremendous, even dating back to the buy signals at the end of last October. However, with this latest breakout rally, breadth has skyrocketed to overbought proportions. In general, that is good for a new rally -- to be overbought. Volatility indices ($VIX and $VXO) remain near historic lows.

While that is not a classic buy signal from $VIX, it is still supportive of a bullish case. That is, the market can rally while $VIX remains low. The only worry would come if $VIX starts to rise -- especially if it gets above 12.50.

There are other seasonally bullish factors at work, so it appears that this rally will continue for most of the rest of this month.

Jane Fox : 1/13/2006 8:48:48 AM

Dateline WSJ American International Group Inc., seeking to close the books on an accounting scandal, is expected to pay more than $1 billion to settle civil-fraud investigations by state and federal authorities, people familiar with the matter say.

The settlement would end a lawsuit filed in May by the New York attorney general's office and the New York State Insurance Department, alleging that the giant insurer and its former chief executive used improper accounting maneuvers in recent years to polish results, misleading investors and state regulators in the process. The deal, which would also include the Securities and Exchange Commission, is likely to be completed within two to three weeks, according to the people familiar with the matter.

Jane Fox : 1/13/2006 8:47:46 AM

Jonathan Thank you for the TYC news yesterday. For any of you who missed it here is the WSJ take on it. Tyco International Ltd.'s board approved its plan to separate the Bermuda conglomerate into three publicly traded companies by the first quarter of 2007 for a total cost of about $1 billion.

The company, which may be best known for its ADT home alarm systems, said it will split its portfolio through tax-free stock dividends into health care, electronics and a third group that will contain the fire and security as well as the engineered products and services segments.

Tyco also lowered its first-quarter earnings outlook and said it now expects income from continuing operations before special items to be about 38 cents a share. Its prior forecast was for earnings of 40 cents to 42 cents a share.

Jonathan Levinson : 1/13/2006 8:41:11 AM

Mark, the TYC announcement was made during yesterday's regular session- I reported the headline in the afternoon.

Jonathan Levinson : 1/13/2006 8:33:54 AM

Equities dipped and have now bounced above their levels immediately preceding the releases. Ten year notes hit a session low and are now printing a session high at 109 27/64. TNX is down 1.1 bps to 4.399%, IRX is up .5% to 4.21%.

Jonathan Levinson : 1/13/2006 8:32:52 AM

Headlines:

U.S. DEC. PPI UP 0.9% VS. RISE 0.5% EXPECTED

U.S. DEC. CORE PPI UP 0.1%, VS. 0.2% EXPECTED

U.S. PPI UP 5.4% IN 2005, LARGEST SINCE 1990

U.S. CORE PPI UP 1.7% IN 2005, VS 2.3% RISE IN 2004

U.S. DEC. PPI ENERGY PRICES UP 3.1%

U.S. DEC. INTERMEDIATE GOODS PPI UP 0.2%

Jonathan Levinson : 1/13/2006 8:31:50 AM

Headlines:

8:30am U.S. DEC. RETAIL SALES UP 6.3% VS. DEC. 2004

8:30am U.S. DEC. RETAIL SALES EX-AUTOS, EX-GAS UP 0.1%

8:30am U.S. DEC. GASOLINE STATION SALES UP 0.9%

8:30am U.S. DEC. AUTO SALES UP 2.6%

8:30am U.S. 2005 RETAIL SALES UP 7.3% VS. 2004

8:30am U.S. NOV. RETAIL SELES REVISED TO UP 0.8% VS. UP 0.3%

8:30am U.S. DEC. RETAIL SALES EX-AUTOS UP 0.2% VS. 0.4% EXPECTED

Jonathan Levinson : 1/13/2006 8:15:41 AM

We await the 8:30 releases of Business Inventories, est. .4%, Core PPI and PPI est. .2% and .4%, Retail Sales est 1% and ex-auto .4%.

Jonathan Levinson : 1/13/2006 8:07:30 AM

Equities are down, ES trading 1292.25, NQ 1759, YM 11004 and QQQQ -.04 to 42.96. Gold is down 548.40, silver +.005 to 9.065, ten year notes are down 7/64 to 109 15/64, crude oil is down .65 to 63.30 and natgas is down .08 to 8.86.

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